Credit growth has seen an unprecedented spike in recent weeks as companies reduced availing loans through commercial papers and sought working capital loans from banks instead after the Reserve Bank of India (RBI) drove short-term borrowing rates through the roof.

The Reserve Bank of India’s (RBI) decision to offer a swap window to banks for fresh dollar deposits attracted from non-resident Indians is likely to add as much as $10 billion (around Rs 66,000 crore) to the dwindling foreign exchange reserves and boost the rupee in the next three months, expect...

Raghuram Rajan’s first day in office as the 23rd governor of the Reserve Bank of India (RBI) was a busy one all right. The former chief economic advisor and world renowned economist came in with a long list of ‘to-dos’ and set about it in right earnest.
From new bank licences to priority-sector...

The State Bank of India-led consortium of 17 lenders is actively considering an option to declare the cash-strapped Kingfisher Airlines a wilful defaulter, said two senior bankers familiar with the development.
Kingfisher, led by Vijay Mallya, has been grounded for around 10 months now, and has...

The India story is only getting worse, economists would have us believe.
On Monday, less than a week after foreign brokerage BNP Paribas cut its gross domestic product (GDP) growth forecast for the country this fiscal to 3.7% from 5.7% earlier, there was a bevy of no-less-gloomy numbers from...

In his last public speech as the governor of the Reserve Bank of India (RBI), D Subbarao took the opportunity to say more than just goodbye.
He blamed the government for a loose fiscal stance during 2009-12, which curtailed the central bank’s degree of freedom and delayed its response.
“Had...

The central bank’s move to directly supply dollar swaps to oil marketing companies halted the rupee march toward 70 a dollar mark.
Despite globally the dollar staying strong, the Indian currency on Thursday appreciated 225 paise to close at 66.55 per dollar on Thursday, logging its biggest...